We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
‘Someone ‘ is turning that port around quickly and to a much higher standed all of a sudden. But who ?
The mine was sold on this date:
"On September 16, 2020, we completed a sale of the Vila Nova iron ore mine, a non-core asset, for proceeds of $10.0 million and realized a gain on sale of $2.5 million."
And less than 2 weeks later UNAMGEN signed a deal to ship ore, presumably from stock piles.
"Companhia Docas de Santana - CDSA started this last Thursday (10/22/2020) the resumption of iron ore export operations, through the operational contract signed with the company UNAMGEN Mineração e Metalúrgica S / A, on 09/29/2020. Ensuring the return of iron ore storage and export through the Organized Port of Santana, which expects to handle up to 400 thousand tons."
===[
12. Sale of Vila Nova
In September 2020, the Company sold its Vila Nova iron ore mine in Brazil for proceeds of $10,000. The mine
was placed on care and maintenance in 2014 and was presented as a disposal group for sale in June 2019. As
at the date of sale, Vila Nova assets held for sale were $11,800 and liabilities associated with assets held for
sale were $4,251, resulting in a gain on disposition of $2,451 recorded in other income.
]===
LoL @Jimb2. Thanks for the offer @Barksy.
Totally agree obs, without an update from KM we're feeding off scraps. Complexity of the deal acknowledged, it is now 2 months since the last update so you'd like to think there has been progress one way or the other during that time. Any material development must be RNS'd so it looks like theres a lot of toing and froing between parties and as usual the only ones making money are the lawyers!
"On September 16, 2020, we completed a sale of the Vila Nova iron ore mine, a non-core asset, for proceeds of $10.0 million and realized a gain on sale of $2.5 million."
We have a date, but no sign of a buyer. How odd...
Well he is obviously too busy to email me but if you want me to try again can you write down exactly I need to write Obs :)
just on that obs, I was wondering how Jazz's SP would look with 45,000t of gold on the way, that would have been a good return for $10m
The thing that's perplexing me about the courts @mmm, is that DEV apparently have permission to start shipping, but haven't done so. I suppose they could be manoeuvring to commence, and we may see a ship labelled as owned by DEV any day now?
What we really need is a progress update from @Kiran...
Doh, good spot from you obs. This link points to unamgen as owner so is out of date https://www.hostelduet.pl/other-mining-machinery/4jmtbg5g.html
@mmm. Good spot, but I think that is the Vila Nova gold project, not the iron ore one.
Fascinating as it is it doesn't mean jack to us. We need the legal agreements finalised and an update from KM, until then I'll be giving the ship watching a wide berth and focusing on the court updates.
It was sold to this company https://www.thenewswire.com/press-releases/1AXXFGn1m-jazz-resources-inc-clarifies-disclosure-on-acquisition-and-non-brokered-private-placement.html
Cheers @jimb2. Your link didn't work. Try this.
https://www.eldoradogold.com/news-and-media/news-releases/press-release-details/2020/Eldorado-Gold-Reports-Q3-2020-Financial-and-Operational-Results/
On their main website obs,
https://www.eldoradogold.com/news-and-media/news-releases/press-release-details/2020/Eldorado-Gold-Reports-Q3-2020-Financial-and-Operational-Results/default.aspx:
Sale of non-core assets: The Company completed the sale of the Vila Nova mine in Brazil for total consideration of $10.0 million. The Company is evaluating strategic options for other non-core assets, including its Tocantinzinho Project in Brazil and Certej Project in Romania
intriguing!
Sold for $10m. But to who?
https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00001610
So who bought it?